Posted by Before his bid for Twitter was accepted, Elon Musk talked about eliminating Twitter’s Board of Directors salaries. Musk said that if the bid were successful, the Twitter board would earn $0 in salary. That would save the company around $3 million per year. What is the average salary for a Twitter Director? Here’s a breakdown of what you can expect from such a position. In addition, you can learn more about benefits and bonuses, as well as health insurance.
Salary
The average Twitter director salary is $193,447. The information comes from anonymous company employee salaries, as well as job advertisements. According to the proxy statements of TWITTER, INC., Twitter pays its top executives a total of $16,233,642 per year. A Twitter director salary is 168% more than the national average. The information is based on 21 data points. The company pays its top executives well, but it is unclear how much the average director makes at the company.
In recent years, the number of people holding board-level positions has increased. However, despite this increase, board gigs are still considered highly coveted and pay a lot. For example, last year, Twitter board members received an average compensation of $289,000 – more than double the average of CEOs and top managers at rivals such as Alphabet, Facebook, and Google. On top of that, Twitter executives earn about $800,000 a year.
Musk, the company’s CEO, has discussed reducing the pay of board members. Before the buyout bid was accepted, Musk publicly talked about a $0 salary for board members. If his bid succeeds, he will cut the board salaries by half and save around $3 million a year. If that happens, it’s difficult to see why Twitter would keep its board members on the company. Aside from the salary, a Twitter director could potentially earn more if they serve on more than one board.
In addition to the executive compensation, Elon Musk has threatened to slash the Twitter board salary to zero if the company fails. Musk wrote a tweet arguing that Twitter’s board members are not aligned with shareholders’ interests and should be forced to lower their salaries to that amount. While this might not be an effective strategy for Twitter, it is a bold move for a public company. However, Musk’s comments may just make matters worse.
Location
The vast differences between salaries for U.S. and international directors have come to light after Twitter released a salary dashboard last week. However, the company’s response does not seem to address the issue of geographic disparity. Twitter said the differences weren’t based on the cost of living or the average salary in various regions. Nonetheless, it seems that the company doesn’t want to change the situation, but rather to provide clarity to employees.
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Despite the discrepancies, the same job is worth 225 per cent more in one country than in another. To see the range of salaries for all Twitter roles, click on the “Salary Range Dashboard.” The data is labeled “Twitter confidential” and current as of April 2022. For this reason, it is unlikely that Twitter will publish these figures to the general public. If the company were to disclose such information, it would likely face legal action.
While the salaries of Twitter directors aren’t unusual, Elon Musk teases the issue of their compensation. Even before the buyout bid, Musk said that Twitter would cut its board salaries, saving around $3 million a year. During the SpaceX press conference, Musk gestured towards reducing Twitter’s expenses. The salaries of Twitter board members, as well as CEO and CFOs, aren’t too high.
Twitter director salaries differ greatly depending on location. In Seattle, WA, salaries are higher than the average in other cities. San Francisco, CA, is comparatively lower than Seattle. If you’re looking for a new job in San Francisco, the average salary for a Twitter director is $174,872.
Bonuses
As a director at Twitter, you’ll likely receive a range of bonuses. Some of these are targeted performance incentives, while others aren’t. In the case of the former, the bonus amount is generally lower than the base salary. If you’re interested in negotiating your Twitter director salary, keep these common pushback points in mind:
The average salary of a Twitter director is $350,000 per year, plus bonuses. This is slightly more than the average salary of an IT manager or Director. The salary range for these roles is widest at the highest level and narrowest at the lowest. However, Twitter’s base salary cap is lower than those of the FAANG companies. For example, an E5 Software Engineering role at Facebook can fetch $214k per year. But Twitter’s base salary has not yet surpassed $195k. The company’s performance bonus structure may be limiting the increase in base salaries.
Even though Twitter’s board salary was once high, Elon Musk announced on Monday that the board will no longer be compensated if he were to acquire the company. Musk said that a successful bid would result in a cut of up to $3 million in board salaries. The board salary at Twitter is currently around $2.9 million, including stock awards and cash. Twitter executives do not receive additional compensation for seats on the board.
In addition to the base salary, a Twitter director will typically receive a target bonus of 150 per cent of his or her base salary. The compensation team at Twitter is also patient, and they will often wait until you’ve completed other hiring processes before presenting a final offer. If a candidate has a specific goal, though, a company will match the highest-rated offer. When competing offers do not come close, it’s important to try to win an upper-end position.
Health insurance
There’s no need to look too far for the most comprehensive health insurance plan for Twitter directors. This comprehensive plan covers health care premiums, paid time off, and financial benefits for all employees. The average salary for a Twitter director is 168% more than the national average, based on data from 21 different sources, including company filings, self-reported employee data, and estimates from public and private datasets. However, this doesn’t mean that the company will cover everything. The data is accurate as of April 2022.
The salaries vary by region. In the US, employees earn on average $183,437 per year. In other regions, the pay is much lower. This may be why some staff are threatening to leave the company for more lucrative employment elsewhere. To see how much your salary will vary, check out the Salary Range Dashboard. You can see how many other employees are earning the same salary as you. For example, in Seattle, WA, salaries for a Twitter director are highest at $183,437, while salaries for a director are the lowest in San Francisco, CA, at $174,872 per year.
A recent thread in the Future Fund’s LinkedIn group focused on Twitter board compensation and noted that 11 of the company’s board members are paid $2.9 million in cash and stock awards. The salaries are even more bizarre given that Twitter is fighting Elon Musk’s $43 billion takeover bid. Musk is the biggest individual shareholder of the social media platform, and he’s building up his stake to nearly nine percent in the firm. Vanguard, another major shareholder, recently increased its stake in the company to 10.3%.